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Ho Chi Minh City: 17 February
2011: Asian Coast Development (Canada) Limited (ACDL)
today announced Colin Pine as General Director of its wholly-owned subsidiary,
the Ho Tram Project Company Limited.
Mr. Pine will act as the Company’s legal representative for the
build-out of ACDL’s $4.2 billion multi property Ho Tram Strip, commencing with
the MGM Grand Ho Tram, Vietnam’s first large scale integrated resort. “In looking for a General
Director, ACDL sought an individual with a deep understanding of Vietnam, both
in terms of its business practices and its culture. Colin brings an impressive
track record of success working with major projects in Vietnam from planning
through to operation,” said Asian Coast Development (Canada) Limited Chief Executive
Officer, Mr. Lloyd Nathan. “With Colin having spent 14 years in this fast
growing Southeast Asian nation, his extensive expertise in working in the
market is an invaluable asset to ACDL as it heads toward the opening of the
first phase of the Ho Tram Strip project in the first quarter of 2013. We are delighted to have Colin join our
team.” Mr. Pine joins the Company
following a career in Vietnam that dates back to 1997, when he joined JD Power
& Associates in Hanoi. He then
moved to the United Nations International School, where he spent nine years as
the executive responsible for all non-academic functions of the school. Between 2007 and 2009, Mr. Pine served
as General Director and Chief Executive Officer of Indochina Beach Hotel Joint
Stock Company, which owns prime hospitality-focused properties and developments
throughout Vietnam. He
concurrently held a Director role with its parent company Sovico Holdings, which
is one of Vietnam's principal privately held investment companies. Mr. Pine also served as a member of the
Board of Directors of Vietjet Aviation Joint Stock Company, the first
privately-owned airline to be licensed in Vietnam. Mr. Pine, who is fluent in Vietnamese, will be based in Ho Chi Minh City where he will manage the Ho Tram Project Company’s offices. “The opportunity to be a part of
a project of this scale is extremely exciting and I am looking forward to
working with our team to create something of immense value,” Mr. Pine
said. “ACDL is developing
something that is entirely new and has the potential to make a huge positive
impact on the economy of Vietnam and the development of its tourism industry. I
am thrilled to be a part of that.” The MGM Grand Ho Tram – scheduled for opening in the first quarter of 2013 – will include a five star hotel, initially 541 rooms expanding to 1,100, a 13,600 square meter entertainment area, retail, restaurants, bars, lounges, shows, conference and meeting areas, a golf course, and other leisure amenities, representing the first large-scale integrated resort development in Vietnam. In its entirety, the Ho Tram Strip represents a $4.2 billion undertaking that covers 164 hectares of a prime beach-front location in Ba Ria Vung Tau. |
